Chainwire
OpenEx Closes Funding Round
Disclaimer: This is a sponsored press release. Readers should conduct their own research prior to taking any actions related to the content mentioned in this article. Learn more ›
Singapore, Singapore, July 20th, 2023, Chainwire โ OpenEx Closed Funding Round to build an industry-unique hybrid exchange model that integrates centralization and decentralization, aiming to be the Hybrid,CEX+DEX, where certified partners can act as their own liquidity provider.
OpenEx today announced it has its Pre-A close for a valuation of 50 Million USD. The round includes prominent names in the Web3 space, includingย Cยฒ Ventures, Agallochum Capital, TKX Capital, Future Moneys, String Capital and many other Web3 industry leaders. The new funding will be used to better the trading experience on the products.
The downfall of FTX reveals the chronic illness of the industry: many crypto exchanges enter the market to trade and form opposite trades with users leading to the exchange being exposed to huge price risks, rampant insider trading, and imperfect risk controls leading to user security issues such as capital safety.
By allowing certified partners to own their decentralized trading pool,ย autonomy and membership sovereignty is at the forefront. OpenExโs core principles are neutrality, fairness, and impartiality.ย With decentralized trading pools, OpenEx will ensure fairness and foster increased participation in the trading ecosystem.
โOpenEx is growing at an exponential rate and we look forward to pushing out more fun and innovative products to our supporters,โ said Bob Chien, Chief Business Officer of OpenEx, โGiven the current market situation, we will soon initiate our trade mining program, where users will be rewarded as they trade.โ
โBased on the OpenEx infrastructure and ecosystem, important links and participants of traditional financial markets, like brokers, will be able to provide more customized services to users in different regions and with different experience profiles.โย stated Chris Lee from TKX Capital.
When asked about the future of OpenEx, CEO Jake Stolarski, replies, โWe are here to democratize the traditional CEX model, with a focus on user empowerment and freedom, we hope that we can build a beginner-friendly platform that ensures fair transactions and personalized services.โ
OpenEx has been online for nearly 3 months and already has an active community of over 100,000 monthly active users, with 60,000+ registered users and members respectively. The daily trading volume is approximately around 100 million USD.
About OpenEx
OpenEx is building an industry-unique new-generation hybrid exchange model that integrates centralization and decentralization, attracting diverse market entities through diverse trading modules to maximize liquidity creation and the most efficient pricing.
Contact
Growth Director
Darren Goh
OpenEx
[email protected]
Share
Press Release Syndication
Broadcast your project news with guaranteed coverage on industry-leading publications like CryptoSlate.
CryptoSlate has partnered with Chainwire to deliver press releases distributed across numerous crypto media sites, including Cointelegraph, Decrypt and The Defiant.
Chainwire has been used by over 800 brands and PR agencies worldwide.
Get Started with Chainwire
